Apple has a patent application for a novel secure transaction system that could revolutionize cash-like payments. Theoretically, crypto-currencies such as Bitcoin, Litecoin and others could work under this system.

Payments are essentially peer-to-peer, but they go through iTunes, which acts as a clearinghouse.

This has the potential to lead to a truly integrated all-digital (cashless) society.Edited by SpamSandwich - 11/28/13 at 11:47am